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Paytm Denies Rumors of Selling Payment Wallet Business Amidst Speculation of Talks with Mukesh Ambani’s Jio and HDFC Bank

Paytm company is going through a crisis these days. With RBI tightening its grip on the company, many discussions are also spreading in the market about the company. Recently a report said that the fintech company is holding a meeting to sell its payment wallet business to Mukesh Ambani and HDFC Bank. However, Paytm has rejected this news calling it wrong and baseless.

Fintech company rejected media report

The fintech company has termed the media reports of selling the payment wallet business as speculation and uninformed. It has also been made clear that the company is not currently talking to anyone regarding its payment wallet business.

Rumors of Mukesh Ambani discussing with Jio and HDFC

Paytm company is currently going through difficult times. In such a situation, the market of discussion about it is also hot. Recently it was revealed in a report that the fintech company is thinking of selling out its payment wallet business. In such a situation, she is also discussing with Mukesh Ambani’s company Jio Financial and HDFC Bank Limited to sell it. However, Paytm Payments Bank Limited has clearly rejected it, calling it a rumour.

Shares of Jio rose and those of Paytm’s parent company One97 fell.

Recently, shares of Mukesh Ambani’s company Jio Financial increased by 14 percent. Jio shares closed at Rs 289.05 per share in the last last session. While the shares of Paytm’s parent company One97 Communications fell to Rs 438. At the same time, Paytm company has also posted on social media that there is a rumor about ED investigating money laundering.

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